The magnificent Garrett specimen of the 1854 proof three cent silver is to see strong bids on January 9, as the Walter Freeman Collection goes under the hammer as part of Heritage Auctions' US Coin FUN Signature Auction.
 The earlier the date of issue for proof type two three cent silvers, the rarer the piece |
The auction spans January 9-14 in Orlando, with the famed Frothingham 1794 dollar expected to lead bids. The Walter Freeman Collection will be sold in its own section during session one on the very first day.
A similar example of the 1854 coin was offered by Heritage in April 1998, selling for $13,200. The present example has already reached $15,000, presumably boosted by its outstanding provenance; it was once part of the highly-respected collection of John Work Garrett, a world-renowned collector and banker.
 The coin's Garrett collection provenance will undoubtedly increase appeal for collectors |
1854 marked a change in the three cent silvers, which were originally issued in 1851. The 1854 issue saw the silver content raised to 90% to encourage circulation, as well as the addition of a double outline to the obverse and an olive branch and bundled arrows added to the reverse.
This issue is known as type two, with proof examples being notoriously scarce. Only in 1858 were the coins regularly distributed to collectors, and even then only a "couple of hundred" pieces were struck, according to Heritage Auctions.
The earlier the date, the more coveted the proof becomes, making the 1854 proof the apex of three cent silver collecting.
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